Total and Permanent Disability (TPD) insurance provides financial support if a disability prevents you from working. This insurance is essential for Australians who want peace of mind that their finances will be protected. Here’s a look at what TPD insurance covers and why it may be right for you.
1. What TPD Insurance Covers
TPD insurance offers a lump sum payout if you become permanently disabled and can’t work in your occupation. This coverage can be used for daily living expenses, medical care, or even modifying your home for accessibility.
2. Who Needs TPD Insurance?
TPD insurance is ideal for high-risk occupations, people with dependents, and anyone concerned about the impact of a disability on their finances.
3. Types of TPD Policies
Australian insurers offer ‘own occupation’ or ‘any occupation’ coverage. The former is more specific and may cost more but ensures you're covered for your particular role.
4. How to Choose the Right TPD Insurance
Work with an advisor to determine the best type and coverage amount for your situation. TPD insurance can complement life insurance for a more comprehensive approach.
TPD insurance provides a financial lifeline if you’re unable to work due to a permanent disability. Explore your options today to ensure you’re fully protected.
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